Integral Investment Advisors Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,762 shares of the iPhone maker's stock after buying an additional 1,814 shares during the quarter. Apple makes up 3.0% of Integral Investment Advisors Inc.'s investment portfolio, making the stock its 12th largest position. Integral Investment Advisors Inc.'s holdings in Apple were worth $9,277,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Ipsen Advisor Group LLC increased its stake in Apple by 4.5% during the first quarter. Ipsen Advisor Group LLC now owns 6,640 shares of the iPhone maker's stock worth $1,475,000 after acquiring an additional 283 shares during the last quarter. Gibson Capital LLC increased its position in Apple by 6.6% during the 1st quarter. Gibson Capital LLC now owns 12,124 shares of the iPhone maker's stock worth $2,693,000 after purchasing an additional 750 shares in the last quarter. Petredis Investment Advisors LLC increased its position in Apple by 1.2% during the 1st quarter. Petredis Investment Advisors LLC now owns 209,755 shares of the iPhone maker's stock worth $46,593,000 after purchasing an additional 2,386 shares in the last quarter. Dividend Assets Capital LLC lifted its position in Apple by 6.4% during the first quarter. Dividend Assets Capital LLC now owns 22,445 shares of the iPhone maker's stock valued at $4,986,000 after buying an additional 1,356 shares in the last quarter. Finally, Abacus FCF Advisors LLC grew its stake in Apple by 1.7% during the first quarter. Abacus FCF Advisors LLC now owns 174,310 shares of the iPhone maker's stock worth $38,719,000 after buying an additional 2,871 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AAPL has been the subject of several recent research reports. Monness Crespi & Hardt increased their price target on Apple to $245.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Morgan Stanley reiterated an "overweight" rating on shares of Apple in a research note on Friday, June 13th. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a report on Tuesday, June 10th. Raymond James Financial dropped their target price on Apple from $250.00 to $230.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, KeyCorp raised shares of Apple from an "underweight" rating to a "sector weight" rating in a research report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $235.27.
Get Our Latest Report on AAPL
Apple Price Performance
Shares of AAPL traded up $1.03 on Tuesday, hitting $209.65. The company's stock had a trading volume of 26,984,417 shares, compared to its average volume of 53,193,331. The company has a market capitalization of $3.13 trillion, a PE ratio of 32.76, a PEG ratio of 2.36 and a beta of 1.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.82 and a quick ratio of 0.78. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a 50 day moving average price of $203.58 and a 200 day moving average price of $216.50.
Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, May 1st. The iPhone maker reported $1.65 EPS for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $95.36 billion for the quarter, compared to analysts' expectations of $94.04 billion. Apple had a return on equity of 167.24% and a net margin of 24.30%. The business's revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 12th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, May 12th. This is a boost from Apple's previous quarterly dividend of $0.25. Apple's dividend payout ratio is presently 16.20%.
Apple declared that its Board of Directors has authorized a share buyback program on Thursday, May 1st that authorizes the company to repurchase $100.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.
Insider Activity
In related news, CFO Kevan Parekh sold 4,570 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $206.00, for a total value of $941,420.00. Following the transaction, the chief financial officer owned 4,569 shares in the company, valued at $941,214. This trade represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $208.19, for a total transaction of $933,940.34. Following the sale, the insider owned 15,533 shares of the company's stock, valued at $3,233,815.27. The trade was a 22.41% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
About Apple
(
Free Report)
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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